Xcyte Digital Corp. Announces Agreement with MCON Live Inc.

Xcyte Digital Corp., a spatial computing event technology firm, has announced a share exchange and asset purchase agreement with MCON Live Inc., a Nevada-based company. The agreement, dated June 12, 2024, involves Xcyte acquiring 5% of MCON's common stock and 100% of its online business. MCON specializes in hosting annual events celebrating military culture.

As part of the deal, Xcyte will issue 50 multiple voting shares convertible into 500,000 subordinate voting shares in exchange for MCON's shares and online business assets. Post-transaction, MCON will receive 25% of the revenue from the online business after deducting costs.

The securities involved will be subject to Canadian and U.S. laws, including a hold period and restrictions on U.S. market distribution. No finder's fees will be paid, and the closing is expected within 30 days, subject to customary conditions.

The agreement will allow MCON to reach a global audience virtually for the first time during its upcoming event on October 24, 2024, powered by Xcyte Digital's technology. The event will include live performances, cultural experiences, and various interactive activities.